Petrol and Diesel Prices Today On March 22 2024: In the international market, at around 6 am on Friday, WTI crude was trading at $ 80.68 per barrel with a drop of 0.48%, while Brent crude was trading at $ 85.38 per barrel with a drop of 0.47%. Petrol and diesel prices in the country have not changed today, i.e. March 22.
Fuel prices in India are affected by factors such as freight charges, value-added tax (VAT), and local taxes.
After this cut, the price of petrol in the national capital (Petrol Price Today in Delhi) is now Rs 94.72 per liter, which was earlier Rs 96.72 per liter. Diesel (Diesel Price In Delhi) is Rs 87.62 per liter, while petrol is Rs 104.21 per liter in Mumbai, Rs 103.94 in Kolkata and Rs 100.75 in Chennai. Mumbai’s diesel price has been Rs 92.15 per liter, Kolkata’s is Rs 90.76 per liter and Chennai’s price is Rs 92.34 per liter.
Petrol and Diesel Prices Today On March 22 2024:
According to Rajasthan Chief Minister Bhajan Lal Sharma, the state’s VAT rate on petrol and diesel will be reduced by 2% from Friday. This VAT cut would provide buyers with relief ranging from Rs 1.40 to Rs 5.30 for petrol and Rs 1.34 to Rs 4.85 for diesel. At the moment, Rajasthan’s government charges 31.04% for petrol and 19.30% for diesel.
As a result of a reduction in fuel taxes by the central government and several states, fuel prices in India have remained steady since May 2022.
Fuel prices are adjusted by oil marketing companies (OMCs) daily at 6 a.m. based on crude oil prices worldwide. The government regulates fuel prices through mechanisms such as excise taxes, base pricing, and price caps.
Check Out: Petrol And Diesel Prices Today On March 21, 2024: Check Fuel Rates In Your Cities
Petrol and diesel prices in India are affected by a number of factors
| City | Petrol | Diesel |
| Noida | Rs 94.66 | Rs 87.76 |
| Gurugram | Rs 94.98 | Rs 87.85 |
| Lucknow | Rs 94.79 | Rs 87.92 |
| Chandigarh | Rs 94.24 | Rs 82.40 |
| Jaipur | Rs 104.88 | Rs 90.36 |
| Patna | Rs 105.53 | Rs 92.37 |
| Hyderabad | Rs 107.41 | Rs 95.65 |
| Bengaluru | Rs 99.84 | Rs 85.92 |
The price of crude oil directly influences the price of petrol and diesel, since crude oil is the primary raw material used in the production of these fuels.
As a major importer of crude oil, India’s petrol and diesel prices are also influenced by the exchange rate between the Indian rupee and the US dollar.
Both the federal and state governments impose various taxes on petrol and diesel. These taxes can differ across states, which has a significant effect on the price of petrol and diesel.
